SAN DIEGO -- A San Diego company is taking a spiraling economy into its own hands by growing, from the ground up, a new wave of tech-savvy businesses to reenergize the market.

Known as a "business incubator," experts said the process could conceive hundreds of jobs and millions of dollars right into the San Diego economy.

In five years, every phone retailer could be ordered to have a cell phone-recycling kiosk, and when that happens, EcoATM creator Mark Bowles will be ready.

"They can come up and get self-service resell for their phone and get paid on the spot," said Bowles.

Bowles then turns around and resells the used phone. He said EcoATM is "Turning trash into cash."

EcoATM is one of six startup technology companies being brought to life in a business incubator.

"There could be a company in here right now that could change the way you live," said Rory Moore, the CEO of CommNexus, the company who created the incubator. "The board of CommNexus decided that San Diego was filling up with far too many unemployed, talented engineers.”

Moore said with no venture capitol out there, there was no room for new businesses to grow. In October, his company opened its doors to six businesses out of more than 100 who applied.

"This gave them an opportunity to launch their business with no overhang, no encumbrances whatsoever and that accelerated their development," he said.

Some 30 companies have donated money, supplies and services to foster these businesses.

"It's the tech sector, helping the tech sector," said Moore.

The program lasts two years, and a new wave of six businesses with be added soon.

"So if you multiply those numbers by 12 incubator companies, it could be as many as 500 new jobs created, but high-paying jobs, high-value add jobs," said Moore.